BANK OF CHINA LIMITED
Telephone : (02) 8235 5888 ABN: 29 002 979 955 SYDNEY BRANCH
Swift Address: BKCHAU2SBLS AFSL No: 230547 3 9-41 York Street
Telex No. BOCSYD AA 177033 INCORPORATED IN CHINA Sydney, N.S.W. 2000
Fax No. (02) 9262 1266 Australia
TRUST RECEIPT
TO: Bank of China Limited ABN 29 002 979 955 DATE
(“the Bank”)
39 -41 York Street
Sydney NSW 2000
Dear Sir,
In consideration of you handing to us the bill(s) of lading or airways bill(s) for goods, as per particulars stated below, which we previously agreed you
may retain to assure payment by us of all amounts payable by us under the conditions applicable to the undermentioned irrevocable documentary
credit issued by you, advance made by you, shipping guarantee or letter of indemnity provided by you (as applicable), we agree as follows:
1. We will take possession of the goods as your bailee.
2. The risk of the goods passes to us at the time we take possession of the goods.
3. Title to the goods will remain with you until all amounts payable by us to you referred to above are paid in full.
4. Until title to the goods passes to us:
(a) we will not encumber the goods;
(b) we will store, mark and keep appropriate records of the goods so they can at all times be identified and distinguished as your
property;
(c) we will not sell the goods on credit except with your prior written consent;
(d) we will hold any money received from the sale of the goods to your account and will immediately pay it to you;
(e) at our cost we will insure the goods for all risks for their full insurable value and keep them so insured;
(f) we will hold any money received under such insurance policies to your account and will immediately pay it to you;
(g) we will permit you to repossess the goods and so terminate the bailment if:
(i) we default under these terms;
(ii) we become insolvent, commit an act of bankruptcy or, if we are a company, a receiver, receiver and manager or administrator is
appointed to us or any of our property;
(iii) a mortgagee takes possession of any of our property;
(iv) if we are a company, an application is made to appoint a liquidator or to have us wound up;
(v) we become subject to the supervision of a court or enter into a scheme of arrangement with our creditors, or
(vi) if any Event of Default (as that expression is defined in each agreement or other document entered into by us with you) occurs
and for these purposes we grant you, your officers and agents an irrevocable right (or, if the premises are owned or occupied by a
third party, we will procure that you have an irrevocable right) to enter any premises where we have placed the goods.
5. All references to the goods mean all or any of the goods.
6. The name of this document is for reference only. It does not affect the meaning or interpretation of this document.
7. To the extent of any inconsistency between the terms and conditions of this document and the terms and conditions of any other agreement
or document entered into by us with you in connection with trade facilities of the type referred to in this document the terms and conditions
most favourable to you will prevail.
8. This document is governed by and interpreted according to the laws of the State of Australia of the location of the Bank’s office to which this
Trust Receipt is addressed.
Yours faithfully
Full name of customer
___________________________________________
Authorized Signatories
PARTICULARS
Credit/Advance/Guarantee/ Amount of Bill Description of Goods Shipping Marks Vessel/Aircraft/
Indemnity No.
I/BNo. Due Date Bill of Lading/ Voyage/Flight No.
Airways Bill No.
2010/AUG/NEWFORM
PLACE AND DATE AS ABOVE.L/C No.
Signature verified
Book entered
Posted
Approved by